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Yahoo
12-05-2025
- Business
- Yahoo
Premier Liquidity Performance Event KyribaLive Showcases Treasury Leaders
13th annual gathering underway to help treasury and finance teams outperform SAN DIEGO, May 12, 2025--(BUSINESS WIRE)--Kyriba, a global leader in liquidity performance, today kicks off its Partner Summit ahead of KyribaLive 2025, the annual customer conference bringing together treasury and finance experts from around the world. KyribaLive stands as the premier liquidity performance event in the industry, where participants will gain valuable insights from thought leaders, expand their professional networks, and explore the latest AI-powered technologies designed to help organizations navigate and excel in today's uncertain economic landscape. This year's KyribaLive features a robust agenda of dynamic keynotes, technology demos, specialized breakout sessions, industry roundtables and CTP learning credit opportunities. With greater access to experts across process automation, AI analytics, risk management, working capital, bank integrations, and strategic treasury leadership, the event represents all facets of the Kyriba platform that empower thousands of customers to optimize their operations and cash flow. Impactful Partnerships Throughout the event, Kyriba partners will access the latest product offerings and training opportunities, be recognized for their achievements, and showcase their expertise in payments, treasury, FX, working capital and implementation. "As Kyriba continues to build upon our exceptional success, partnerships are increasingly vital to our growth trajectory. We are acutely focused on strengthening our global and local alliances, as well as expanding technology partnerships, that can deliver mutually beneficial impact to our valued partners and customers," said Andrea Delvo, Kyriba SVP, Partnerships & Alliances. The Partner Summit will highlight new partnerships, expanded collaboration and enhanced offerings, including: Morgan Money, a global trading platform developed by J.P. Morgan Asset Management. Morgan Money is now seamlessly available through Kyriba's API Marketplace, the largest in the treasury space. This integration leverages Kyriba's technology to provide their mutual customers with real-time investment workflows, demonstrating how API connectivity can help transform treasury and create tangible business value. Amazon Web Services (AWS), which has recently certified Kyriba through the AWS Financial Service Industry (FSI) Competency program. Achieving this competency certification assures our customer and partner ecosystem that Kyriba has met the high AWS standards for performance, security, and high availability as an innovative fintech partner. Kyriba, a multi-tenant SaaS platform deployed on AWS, also transacts through AWS' marketplace. Databricks, whose Data Intelligence Platform has been selected by Kyriba for its highly secure and flexible architecture, along with its strong commitment to open-source. Databricks has recently recognized Kyriba's innovative and open approach by welcoming Kyriba into its Built on Databricks partner ecosystem. Kyriba's improved Partner Portal. Beginning this Spring with features rolling out through the end of the year, the Kyriba Partner Portal aims to expedite and enhance partner onboarding and experience. New features include: streamlined sign-on, training resources, case and certification management, access to Kyriba's DUST platform, product release information, and much more. Impressive Achievements Expanding its annual awards program to feature new categories and selection criteria, Kyriba also recognized the dedication and superior liquidity performance impact of its customers. Among thousands of organizations, a selection of this year's honorees include: Apollo named Enterprise Liquidity Transformation of the Year for embracing technology for the optimal transformation and efficiency of their treasury and finance departments. Hartree Partners awarded Payments Innovator of the Year for their achievements in successfully centralizing and automating their treasury operations through Kyriba to support rapid growth, complex trading activities, and global expansion. McCormick & Co named Working Capital Program of the Year in recognition of its optimized cash flow through the company's supply chain program. By standardizing AP and SCF on Kyriba's platform, McCormick automated invoice and payment workflows across multiple banks and 300+ suppliers, minimizing manual workflows, transforming treasury operations and positioning the company to roll out globally as they continue their global ERP upgrade. Uber awarded FX Optimization of the Year for embracing Kyriba's FX module, and making great strides in managing FX exposure and risk. By automating data integration and optimizing hedging strategies, Uber has significantly reduced manual processes, enhanced financial stability, and set a new standard in global treasury excellence. Kyriba's signature KyribaLive Exchange (KLX) event series will kick off this summer, with regional events slated in Tokyo, Singapore, Riyadh, Dubai, London, Paris, Zurich, Milan and Madrid. To learn more, visit: About Kyriba Kyriba is the global leader in liquidity performance, empowering CFOs, Treasurers and IT leaders to connect, protect, forecast and optimize their liquidity amid economic complexity. As a secure and scalable SaaS solution trusted by 3,000 customers, Kyriba delivers intelligence and financial automation through innovative technologies, bringing precision, efficiency, and insight to financial operations. With an expansive ecosystem of banking, technology and consulting partners, Kyriba's platform powers more than 3 billion bank transactions and $15 trillion in payments across 9,900+ banks annually – helping companies gain enterprise-wide visibility, ensure financial stability, and outperform their business strategy. View source version on Contacts Media Contact: PR@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arab Times
03-03-2025
- Business
- Arab Times
Zain Group 2024 revenue reaches 15-year high of KD 2 billion, normalized net income grows 15% YoY to reach KD 208 million
KUWAIT CITY, Mar 3: Zain Group, a leading provider of innovative ICT technologies and digital lifestyle communications operating in eight markets across the Middle East and Africa, serving 49 million customers, announces its consolidated financial results for the full-year 2024 (FY-24), and fourth-quarter (Q4-24) ended 31 December 2024. For FY-24, Zain Group generated consolidated revenue of KD 2 billion (USD 6.4 billion), up 3% YoY. Consolidated EBITDA for the period reached KD 689 million (USD 2.25 billion), with normalized EBITDA growth of 2% (excluding number range claim in 2023), reflecting an EBITDA margin of 35%. Consolidated net income reached KD 208 million (USD 677 million), representing normalized net income growth of 15%, when adjusted for number range claim and Tower transaction gain in 2023 and gain on business combination from acquisition of IHS (Kuwait TowerCo) in 2024. Earnings per share amounted to 48 fils (USD 0.16). Board H2 2024 dividend recommendation. The Board of Directors of Zain Group recommended a cash dividend of 25 fils per share for the second half of 2024. This dividend follows the semi-annual dividend of 10 fils distributed in Q4-24, totaling 35 fils per share for the year and reflecting a 73% payout ratio, one of the highest among listed entities in the region and in line with the Board's previously committed minimum cash dividend policy of 35 fils in total, for three years that commenced in 2023 and ends in 2025. Furthermore, the Board made another recommendation to renew the minimum annual cash dividend policy of 35 fils in total, for the forthcoming three years commencing in 2026, subject to Annual General Assembly and statutory approvals. For Q4-24, Zain Group generated consolidated revenue of KD 526 million (USD 1.7 billion), up 7% YoY. EBITDA for the quarter reached KD 184 million (USD 599 million), reflecting an EBITDA margin of 35%. Normalized net income soared 120% to reach KD 72 million (USD 235 million), representing earnings per share of 17 fils (USD 0.05). Key Operational Notes for 4th quarter and 12 months ended 31 December 2024 2024, Zain Group invested USD 1.1 billion in CAPEX representing 17% of revenue, mainly on 4G and 5G rollouts, and expansion of FTTH infrastructure and spectrum license fees data revenue grew 1% YoY to reach USD 2.44 billion, representing 38% of Group's 2024 revenue Enterprise revenue grew 8% YoY due to B2B mobility and ZainTECH revenue growth of 103% YoY groupwide revenue up 19% YoY, with total transactions value reaching USD 12.4 billion (API Platform) revenue up 19% YoY offering over 220 live services from 44 partners, introduces API Marketplace platform driving robust revenue growth in digital operators, KSA's 'Yaqoot' and Iraq's 'oodi' Omantel International (ZOI) revenues soared 455% YoY, highest-ranked network in region, top 100 worldwide Equity and Inclusion programs recognized through several prestigious global awards media followers exceed 35 million, YouTube views exceed 200m through appealing, relevant content upgrades Zain from 'BB' to 'BBB' in ESG 2024 rating Consulting Group ranks Zain in top 15 telcos globally of creating value for shareholders brand valuation grows 14.5% YoY to USD 3.5 billion according to Brand Finance 2025 rankings Commenting on the 2024 full year results, the Chairman of the Board of Directors of Zain Group, Mr. Osamah Al Furaih said, 'It was a defining year in growing the business and increasing shareholder value despite socio-economic challenges across our footprint. The implementation of numerous ESG initiatives as well as the acceleration of digital transformation and revenue growth from new business verticals have future-proofed Zain and prepared it for the next phase of growth.' Regarding the ongoing crisis in Sudan, the Chairman commented, 'We continue to work closely with our colleagues in Sudan to ensure the community remains connected, while ensuring the safety of our people. We have undertaken many concrete initiatives and invested vast amounts in maintaining the network that sees approximately 1,300 sites operational serving over 10 million Sudani citizens.' The Chairman concluded, 'The Board will continue to invest in network expansion, technologies, strategic business opportunities, and talent to ensure the company reaps the rewards of the ever-growing mobile and ICT sector. I would like to recognize the government bodies in Kuwait and across our markets for supporting the telecom sector and empowering Zain to provide meaningful connectivity to the communities, businesses, and governments we proudly serve.' Zain Vice-Chairman and Group CEO, Bader Al-Kharafi commented, 'Our strong operational and financial performance have exceeded the guidance we provided to the investor community. These robust results are due to the successful implementation of our 4SIGHT strategy that has positioned Zain among the top 15 global telecom entities in creating shareholder value over the last 5 years. The focus on operational efficiency, digital transformation in better serving customers, the transactions related to passive tower infrastructure, huge investments in 5G network upgrades, targeting new enterprises and government clients, and the efforts in accelerating the growth of various lucrative business verticals, were instrumental in achieving 2024 strong results. The recently launched '4WARD-Progress with Purpose' will further accelerate our growth and take Zain to new heights.' Regarding the dividend distribution, 'The third consecutive total annual dividend of 35 fils, reaffirms the commitment we made at the beginning of 2023 and provides a strong indication of our healthy balance sheet and financial solvency.' 'The growth witnessed by the new business verticals born out of the 4SIGHT strategy (Fintech, ZainTECH, ZOI, FOO and Dizlee) is truly spectacular, generating an additional revenue in 2024 of USD 253 million, that reflects a revenue growth of 130% YoY.' 'Our fintech entities in KSA, Iraq, Jordan, and most recently in Bahrain, as well as our pure digital operators in KSA (Yaqoot) and Iraq (oodi) are witnessing healthy revenue and customer growth. We will continue to expand these lucrative areas of the business across our footprint and look forward to launching fintech services in Kuwait and Sudan later in 2025.' 'The team of ZainOmantel International (ZOI) deserves acknowledgement in positioning the wholesale entity as the highest-ranked carrier network in region, making the top 100 worldwide. This achievement reconfirms its ambition of revolutionize the wholesale telecommunications sector by offering a unique proposition that combines the strengths of both Zain and Omantel to deliver unparalleled service and support to customers worldwide. Both our customers are benefiting from quality internet connectivity, voice, roaming, messaging, and more. We will continue to foster this fast-growing and lucrative business.' 'ZainTECH's revenue growth of 103% YoY and acquisition of several strategic entities in recent years in cooperation with B2B teams across our operations, is driving solid enterprise revenue growth groupwide. This trajectory, bolstered by multiple partnerships with leading global solution providers, has made Zain the connectivity and enterprise partner of choice for enterprises and government bodies across the region. We have ambitious targets on the potential of this line of business and will dedicate the resources to ensure its continued success.' 'Our passive infrastructure strategic ambitions took further steps through the acquisition of the remaining 70% stake in IHS (Kuwait TowerCo), an independent licensed tower company that owns 1,675 sites, and manages approximately 700 additional sites in the Kuwaiti market. This transaction complemented the strategic agreement with Ooredoo to create the largest tower entity in the region. The aim of our sustainable and independent operating model is to provide passive infrastructure as a service, supporting the reduction of MENA's carbon footprint and empowering the region's digital future. 'The recent approval we received from the Science Based Targets initiative (SBTi) of our Net-Zero targets validates Zain's commitment to climate change, placing the company at the forefront of climate action in the region. As the only Kuwaiti-based corporate to have its emission reduction targets verified by the SBTi, the ESG rating upgrade to BBB by Morgan Stanley Capital International (MSCI) reaffirms Zain's commitment to sustainability, corporate governance and ethical leadership, that is value creative for all stakeholders.' Al-Kharafi concluded, 'BrandFinance's recent valuation of the Zain brand that saw its value increase 14.5% from USD 3 billion to USD 3.5 billion, as well as enhancing its AAA- brand strength rating, is a testament to the investment Zain has placed in establishing its name and identity over the past 18 years. The successful media campaigns, having 35 million social media fans and over 250 million video views annually, the many corporate sustainability, DEI initiatives introduced over the years, combined with our ongoing innovation and investment in network upgrades that result in quality mobile and digital services and exceptional customer experience, has made Zain one of the most inspirational and recognized corporate brands in the region and beyond.' Financial KPIs of key markets for the 12 months ended December 31, 2024 Kuwait: Zain Group's flagship operation maintained its market leadership, with a customer base of 2.6 million. The Group's most profitable operation saw its full year 2024 revenue grow by 4% YoY to reach KD 373 million (USD 1.2 billion), with EBITDA increasing 6% to reach KD 139 million (USD 454 million), reflecting an EBITDA margin of 37%. For the full year, net income soared 37%, reaching KD 110 million (USD 358 million), driven by an $80 million transaction gain from the step-up acquisition of IHS (Kuwait TowerCo) in Q4 2024. Data revenue represented 35% of total revenue. Saudi Arabia: The operator generated all-time high revenue of USD 2.8 billion up 5% YoY, with EBITDA reaching USD 886 million, reflecting an EBITDA margin of 32%. Normalized net income for the year soared 354% YoY to reach USD 159 million (excluding the one-off gain of SAR 1.1 billion from sale of 8,069 towers recognized during 2023). With its dynamic 5G network covering 66 cities, data revenue for the year grew 5%, representing 40% of total revenue, while customers served stood at 9.3 million, up 4% YoY. Iraq: Revenue grew 11% to reach USD 1.1 billion, with EBITDA amounting to USD 441 million, up 18% YoY, reflecting an EBITDA margin of 41%. Net profit jumped 47% to reach USD 130 million. The operator's customer base grew 10% to reach 19.7 million customers. The key drivers for the operator's impressive results were driven by the continued network expansion combined with the newly launched commercial offers and strong growth in the data segment. Sudan: The continuing crisis and currency devaluation saw the operator's full-year revenue decrease 53% YoY, to reach USD 260 million, EBITDA dropped 58% YoY to reach USD 112 million, reflecting an EBITDA margin of 43%. Net income for the year dropped 47%, reaching USD 116 million. Restoration of dedicated customer service agents, appealing new packages and launch of new digital services saw the customer base reach 10.1 million. A focus on providing coverage to communities saw Zain Sudan restore the network and operate nearly 1,300 network sites, of which notably the operator utilized the Star-Link service for BTSs backhauling that restored more than 100 sites. Furthermore, the operator has diversified its channel distribution, now leading the telecom market in the number of retail shops and digital service facilities with over 150 locations. Jordan: Zain Jordan revenue increased 6% YoY to reach USD 556 million, EBITDA increased 4% to reach USD 224 million, reflecting an EBITDA margin of 40%. Net income for the year increased 3% to reach USD 79 million. With the expansion of 4G, Fiber and launch of 5G services across the country, data revenue grew 8% representing 51% of total revenue. Zain Jordan customer base grew by 6% to reach 4.2 million customers, maintaining its market leadership. Bahrain: The operator generated revenue of USD 205 million, up 7% YoY. EBITDA increased 5% to reach USD 63 million, reflecting an EBITDA margin of 31%. Net income grew 2% to reach USD 15.7 million, with data revenue growing 6% to represent 46% of total revenue.
